Bitcoin Reaches New Peak: Is $120K Next?

user avatar

by Giorgi Kostiuk

2 years ago

Today, Bitcoin (BTC) set a new all-time high of $109,114.88, briefly reclaiming a market capitalization of $2.15 trillion. However, its price dropped to $108,241.38 shortly thereafter.

Bitcoin's Record Price

Bitcoin saw a 3.82% rise over the last 24 hours, leading to a new peak. However, following the peak, its value decreased by 1.2%.

Analytical View on Future Movements

Crypto analyst EGRAG CRYPTO emphasized the importance of BTC closing a four-hour candle above $109K to sustain momentum toward $120,000.

BTC did not close as NEW ATH: Now let's try the second Candle 3 hours 55 mins to go.EGRAG CRYPTO

Technical Analysis and Prospects

Previously, EGRAG suggested that Bitcoin needs to close a weekly candle above $103,000 to set the path for a test of $127,000. Additionally, the analyst warned that a retest of $77,000–$80,000 could occur before further upside.

While Bitcoin continues to surprise with its rapid ascent, analysts highlight the importance of key price levels for predicting further market changes.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.